Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-01-23
ON CHANGE.
Spot Cotton Unchanged, Futures from
One to Three Points Higher.
Money Market Easy.
The Reports of Copious Rains In the Win
ter Wheat Belt added Strength
to the Wheat Market.
sort WORTH MARkETs-DAILY Re
VIEW.

OFFICE OF THE GAZETTE,
FORT WoRTH. TEX, Jan. p. 1851
Trade was good to-day and the effect OF
the rain was to cause buoyant feeling in
mercantile circles.
| Eggs have slight upward tendency.
Potatoes have an upward tendency.
Cabbage is still scarce article and is
in great demand.
WHAT BANKS ARE ORGANIZED FOR.
By banker: There is a curious no.
ton in regard to banks and banking
which seems to be very widely ueld by
persons outside of the business, and
which underlies many of the generally
received theories in regard to banking,
but which, upon examination, will be
| found to be as erroneous as it is
popular. 1t is tn notion that bank is
organized principally for the purpose
that the pecuniary profit of the share
| holders is entirely secondary considera-
ton; that the convenience of the public,
and the public good generally, is the sole
object in view by the state or national
government when the bank is chartered;
and that, somehow or other, this object
proportion as bank fails to attain this
object, Just in that degree does it fall
short OF the end for which it was created.
One rarely hears the proposition so
markedly or so frankly stated as the above;
but the evidence Of its existence crops
out on all occasions, and sometimes in
an amusing way. When mercantile
failure occurs, the bankrupt firm usually
-, 70, 81
ton and sympathy (as a fellow feeling
makes US wondrous kind, while the
unluCky creditors are left to
tell their woes to an uuheeding
and careless world; but let
bank failed to meet its obligations, and
10! cry goes up to the heavens. There
is an outburst OF public Indignation. and
the newspapers 'ake up the cause, and
sin varying notes prolong the strain"
But to the impartial mind, there is little
difference in the two cases. A failpre at
best is but q dismal affair for all con-
cerned, and the less said about it the
better.
If attention be paid to the various
schemes, good, bad and Indifferent, That
have been put forth for regulating the
national bank currency, one cannot but
be struck with the almost entire disre-
gard of the views and wishes of the
banks themselves. The security CT the
circu ating notes, their volume, their
elasticity, their conformity to all
the requirements OF sound and
stable currency, are all provided
for. The interests OF the public are
most carefully guarded: but the interests
OF the stockholders, the owners of the
bank, do not receive the cold respect of
passing glance. DefalCations are treat
ed in the same way. The idea appears to
be that he who robs bank robs the COM
munity, when the fact is, community
cannot be robbed in the slightest degree
until every dollar OF the stockholders
money is gone, and, in the case Of national
banks, as much more in addition.
Shareholders who look for dividend and
bank directors who have to provide the
dividends, may be excused for taking O
different view OF these matters, and for
looking to their own interests as closely,
al lease, as TO the interests OF the public
in general. H. is for this reason, per-
haps, that public opinion and the views
of practical bankers do not always coin
eide. a bank, while subscribing many
public uses, is organized, Just as any
other corporation is organized, for the
purpose OF gaining profit for the share
holders. If amateur bank critics would
but keep their attention fixed on this
point, as on guiding star, their disser-
tations might be more creditable to them
selves, and less entertaining to those in
side OF the profession. - Bankers
Monthly